Nearly 550,000 poor households provided with soft loans in Ninh Binh
The Vietnam Bank for Social Policies (VBSP)’s Ninh Binh Branch has provided more than 9.84 trillion VND (415.63 million USD) in soft loans for around 547,870 poor households and other policy beneficiaries in the northern province over the last two decades.
NinhBinh (VNA) – The Vietnam Bank for Social Policies (VBSP)’s NinhBinh Branch has provided more than 9.84 trillion VND (415.63 million USD) insoft loans for around 547,870 poor households and other policy beneficiaries inthe northern province over the last two decades.
Theinformation was announced at a conference held by the provincial People’sCommittee on September 19 to review the 20-year implementation of the softcredit policy designated for the poor and policy beneficiaries in Ninh Binh inaccordance with the Government’s Decree 78/2002/ND-CP dated October 4, 2002.
Themajority of the soft credit has been pumped into agriculture and ruraldevelopment, with priority given to poor households and those from ethnicminorities and living in remote and extremely disadvantaged communes.
TheVBSP Ninh Binh Branch has set a credit growth of 8% annually🧸 by 2030. It alsoplans to keep the annual delinquency rate below 0.5%./.
The Vietnam Bank for Social Policies (VBSP)’s soft loans for poor people has been seen as a standout in Vietnam’s effort to achieve sustainable poverty reduction.
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Illustrative image (Photo: VNA)
